Retail Analytics
In an industry notorious for expensive real estate, slim margins and tenuous customer loyalty, retailers in every category need as much support as they can get when deciding where to operate, what they should stock, which customers they should fight to retain, and how to communicate with them.
Store Clustering
Stores within a group do not perform in the same way despite how similar the product and price offers. Both internal and external factors impact the performance of every store more or less. In an ideal world we would treat every store as unique and range merchandise to suit the customers who walk through the store. In the real world we must seek to cluster stores by common attributes and performance patterns. The right store clustering programme results in increased customer satisfaction, compliance and improved supply chain efficiency. The entire company should be able to understand the clusters and describe the people and the stores that each cluster most strongly represents.
Market Basket Analysis
Market basket analysis identifies customer's purchasing habits. It provides insight into the combination of products within a customer's "basket". The term "basket" normally applies to a single order. However, the analysis can be applied to other variations. We often compare all orders associated with a single customer. Ultimately, the purchasing insights provide the potential to create cross sell propositions:
- Which product combinations are bought.
- When they are purchased.
- What sequence.
Developing this understanding enables businesses to promote their most profitable products. It can also encourage customers to buy items that might otherwise have been overlooked or missed.
Customer Insight
Customer Insight enables business users to easily identify the most and least profitable business profiles. Customer segmentation is vital to better understand the market place, customer segments and individual customers to derive the greatest amount of revenue and profit.
Business Intelligence supports the consolidated data requirements of pre-defined business content based on Cognos 8 BI.Powerful analytics enable users to define new, deep insights from their most valuable asset - information
